Question

From the following transactions of M/s Prasad Philipore you are required to show the effect on assetsliabilities and capital: (a) Ajeeta commenced business cash Rs.50000;goods Rs.30000 and furniture Rs.20000​

Answer 1

Answer:

Capital = 50,000 ( Credited to Capital )

Goods = 30,000 ( Credited to Capital )

Overall = Increase in Capital

Furniture = 20,000 ( Increase in Assets )